The number of homes sold increased in the Delaware Valley/Lehigh Valley region of New Jersey in April when compared to year-ago figures, according to The Long & Foster Market Minute reports. The region includes Burlington, Camden, Gloucester and Mercer counties. The Long & Foster Market Minute reports are based on data provided by TREND multiple listing service and its member associations of Realtors and include residential real estate transactions within specific geographic regions, not just Long & Foster sales.

According to April data, the number of units sold increased in the Delaware Valley/Lehigh Valley region compared to April 2015. In both Camden and Gloucester counties, the number of homes sold rose by 23 percent, while Mercer County saw an increase of 13 percent. Burlington County experienced a 6 percent increase in the number of homes sold.

Median sale prices increased in most of the Delaware Valley/Lehigh Valley region in April, with Gloucester County experiencing an 8 percent increase and Camden County seeing a 4 percent increase. In Burlington County, the median sale price increased by 3 percent and in Mercer County the median sale price remained the same from the previous year.

Active inventory levels were low in the region in April compared to year-ago levels, with Burlington County seeing a 13 percent decrease. In Mercer, Gloucester and Camden counties active inventory fell by 10 percent, 9 percent and 8 percent, respectively.

The days on market (DOM) average remained steady in the region with homes selling in less than three months on average. Mercer County saw a days on market (DOM) average of 73 days, and Camden County experienced a DOM average of 74 days. In Burlington County, the days on market average was 87 days, while the DOM average was 89 days in Gloucester County.

“Low inventory is causing frustration for many homebuyers but we are continuing to see some positive trends otherwise, including in the Delaware Valley/Lehigh Valley region,” said Jeffrey S. Detwiler, chief operating officer of The Long & Foster Companies. “Many are seeing home prices increase, which is excellent for those looking to sell, new home sales are high and home improvement stores are reporting strong earnings. With mortgage rates continuing to remain low, we anticipate the market will remain healthy as we move into summer.”

The Long & Foster Market Minute is an overview of market statistics based on residential real estate transactions and presented at the county level. The easy-to-read and easy-to-share reports include information about each area’s units sold, active inventory, median sale prices, months of supply, new listings, new contracts, list to sold price ratio, and days on market. Featuring reports for more than 500 local areas and neighborhoods in addition to more than 100 counties in eight states, The Long & Foster Market Minute is offered to buyers and sellers as they aim to make well-informed real estate decisions.

The Long & Foster Market Minute reports are available at www.LongandFoster.com, and you can subscribe to free updates for the reports in which you’re interested.    Information included in this report is based on data supplied by TREND, which is not responsible for its accuracy. The reports do not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of TREND or Long & Foster Real Estate.